Trident Royalties Announces Results of Court Meeting and General Meeting
Trident Royalties Limited, a global mining royalty and streaming company, recently held a court meeting and general meeting to seek approval for a proposed scheme of arrangement outlined in their explanatory statement dated December 9, 2021. The meetings, both held virtually on January 13, 2022, saw significant shareholder participation and resulted in the approval of the scheme of arrangement.
Results of the Court Meeting
During the court meeting held on January 13, 2022, Trident Royalties sought approval from its shareholders for the proposed scheme of arrangement. This scheme involved the acquisition of Bentley Capital Limited by Trident and the subsequent delisting of Bentley Capital from the Australian Securities Exchange.
The court meeting resulted in overwhelming support from shareholders, with approximately 99.9% of votes cast in favor of the scheme of arrangement. The strong show of support demonstrates shareholders’ confidence in Trident’s strategic direction and the potential benefits of the proposed acquisition.
Results of the General Meeting
Following the court meeting, Trident Royalties convened a general meeting to seek shareholders’ approval for various resolutions related to the proposed scheme of arrangement. The resolutions encompassed key aspects of the transaction, including the issue of Trident shares to Bentley Capital shareholders as consideration for the acquisition.
At the general meeting, shareholders voted in favor of all resolutions, demonstrating widespread support for the proposed scheme of arrangement. Approximately 99% of votes cast were in favor of the issuance of Trident shares to Bentley Capital shareholders, highlighting shareholders’ endorsement of the strategic rationale behind the acquisition.
Implications of the Shareholder Approval
With the approval of both the court meeting and general meeting, Trident Royalties has cleared a significant hurdle in the implementation of the proposed scheme of arrangement. The shareholder endorsement signifies confidence in the company’s growth strategy and its ability to create sustainable long-term value for investors.
Furthermore, the successful outcome of the meetings paves the way for Trident Royalties to proceed with the acquisition of Bentley Capital and the subsequent delisting of Bentley Capital from the Australian Securities Exchange. These strategic moves are aligned with Trident’s objective of expanding its asset portfolio and enhancing its position as a leading player in the mining royalty and streaming sector.
Looking Ahead
As Trident Royalties moves forward with the completion of the proposed scheme of arrangement, the company is poised to unlock new opportunities for growth and value creation. The acquisition of Bentley Capital represents a strategic milestone that will further diversify Trident’s royalty portfolio and strengthen its competitive position in the mining industry.
In conclusion, the resounding approval received at the court meeting and general meeting underscores shareholders’ confidence in Trident Royalties’ strategic vision and operational capabilities. By securing shareholder support for the proposed scheme of arrangement, Trident is well-positioned to drive sustainable growth and deliver value to its stakeholders in the coming years.
